Late Sunday, the Federal Deposit Insurance Corp. announced that First Citizens Bank would acquire Silicon Valley Bank’s deposits, loans, and branches. This bank was known for its support of crypto startups. Bloomberg reported at first that the deal was close to completion and could be announced on Monday morning. The FDIC stated that all depositors at Silicon Valley Bridge Bank (the bridge bank established by the FDIC following the collapse of Silicon Valley Bank) will become depositors at First-Citizens Bank & Trust Co. FDIC will continue to insure all deposits taken by First Citizens Bank (a regional bank located in Raleigh, N.C.). Silicon Valley Bridge Bank had approximately $167 billion in assets as well as nearly $119 billion of deposits, as of March 10.